UK FCA Selects ReStabilise, Monee, Revolut and VVTX for 2026 Stablecoin Sandbox Trials

• FCA selects four firms to test stablecoin services under proposed UK crypto rules in 2026 sandbox.

• Stablecoin pilot will cover payments settlements and digital asset trading before 2027 rules.

• Regulatory Sandbox will help FCA gather real data to shape the final UK stablecoin framework.

The UK Financial Conduct Authority has selected four firms for a new stablecoin testing programme within its Regulatory Sandbox. The regulator announced the decision on Wednesday. This step advances plans to shape formal stablecoin rules in the UK. It also signals closer supervision of digital asset services.

🇬🇧UK FCA Selects Four Firms to Join Stablecoin Regulatory #Sandbox Cohort.#CiaoAI #UK #FCA #Stablecoin #Bank #England pic.twitter.com/48GFZ6xQ3I

— CiaoAI (@CiaoAi_Global) February 26, 2026

The FCA chose ReStabilise, Monee Financial Technologies, Revolut, and VVTX from nearly 20 applicants. These firms will test stablecoin services under proposed UK regulations. They will operate in a controlled environment. The regulator will monitor risks while allowing innovation.

The testing programme will begin in the first quarter of 2026. At that stage, participants will demonstrate how their stablecoin models function in real market conditions. The pilot will cover several use cases. These include payments, wholesale settlement, and digital asset trading.

Sandbox Trials Set Policy Direction

The FCA will use the trials to gather operational data. This data will guide final regulatory decisions. The regulator plans to open the crypto authorization process in September. Full stablecoin and digital asset rules will take effect in October 2027.

The sandbox allows firms to test products under regulatory oversight. Therefore, the FCA can assess how stablecoins perform in live scenarios. The approach reduces systemic risk. It also supports informed policymaking.

The regulator aims to ensure stablecoins can support payments and settlements safely. In addition, it wants to strengthen trust in digital transactions. The FCA can refine safeguards before final implementation by collecting real market evidence.

Four Firms Bring Diverse Market Roles

Each selected company represents a different segment of digital finance. ReStabilise and Monee Financial Technologies focus on stablecoin design and reserve management. Their participation will test technical and backing frameworks.

Revolut adds experience in consumer-facing digital financial services. Its inclusion links stablecoin trials to broader payment ecosystems. Meanwhile, VVTX concentrates on institutional settlements and market infrastructure. This mix allows the FCA to examine both retail and wholesale applications.

Together, the four firms will test how stablecoins interact with trading venues and settlement systems. The regulator will assess transaction efficiency and compliance controls. It will also review operational resilience during the pilot.

Regulatory Sandbox Expands into Digital Assets

The FCA created the Regulatory Sandbox to support fintech innovation. For years, it focused on traditional financial products. Now, it applies that framework to stablecoins and digital assets.

The regulator will strengthen oversight at an early stage by extending the sandbox to stablecoin services. This strategy allows innovation under supervision. At the same time, it prepares the UK financial system for structured digital asset integration.

The stablecoin testing programme marks a measured step toward formal regulation. The FCA will rely on trial results to finalize its framework.